Weekly Open Bias - Adjustable EMAs
Weekly Open Bias IndicatorThis indicator helps traders track market sentiment by analyzing price action relative to the Weekly Open Price.
It provides a clear visual anchor for long-term and swing trading biases.
Key FeaturesWeekly Anchor: Automatically tracks and plots the open price of the current week.
Dynamic Bias Shading:
Background turns green when the price is above the weekly open, and red when it is below.Adjustable Moving Averages:
Includes customizable Fast (9) and Slow (15) Exponential Moving Averages (EMAs) to capture trend direction.
Pine Script v6: Fully updated and optimized for TradingView’s latest script architecture.
How to Use It.
Bullish Bias: Look for long setups when the background is green and the fast EMA is above the slow EMA.
Bearish Bias: Look for short setups when the background is red and the fast EMA is below the slow EMA.Key Support/Resistance: Treat the blue weekly open line as a major psychological pivot point.
It provides a clear visual anchor for long-term and swing trading biases.
Key FeaturesWeekly Anchor: Automatically tracks and plots the open price of the current week.
Dynamic Bias Shading:
Background turns green when the price is above the weekly open, and red when it is below.Adjustable Moving Averages:
Includes customizable Fast (9) and Slow (15) Exponential Moving Averages (EMAs) to capture trend direction.
Pine Script v6: Fully updated and optimized for TradingView’s latest script architecture.
How to Use It.
Bullish Bias: Look for long setups when the background is green and the fast EMA is above the slow EMA.
Bearish Bias: Look for short setups when the background is red and the fast EMA is below the slow EMA.Key Support/Resistance: Treat the blue weekly open line as a major psychological pivot point.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.